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ANZ-Roy Morgan Consumer Confidence ends its six week streak, down 3.2% to 117.7
May 29 2018
- Finding No.
Consumer Confidence Press Release
This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,010 face-to-face interviews conducted Australia-wide with men and women aged 14 and over the weekend May 26/27, 2018.
ANZ-Roy Morgan Australian Consumer Confidence dropped 3.2% this week to 117.7, after six straight weekly gains. The details were also negative with confidence falling across all sub-indices, led by a sharp fall in views towards future financial conditions.
ANZ’S Head of Australian Economics, David Plank, commented:
- Households’ views towards current financial conditions fell 2.7% this week entirely reversing gains over the previous two weeks. Views towards future financial conditions fell 4.1% to 122.5, the lowest since November last year.
- Sentiment around current economic conditions eased 2.4% this week following no change previously. Views towards future economic conditions fell 2.5% this week, adding to the 1.9% loss in the previous week.
- The ‘time to buy a household item’ sub-index dropped 3.9% last week, more than reversing the previous week’s rise (2.6%). The weekly inflation expectations climbed sharply to 4.7%.
“ANZ-Roy Morgan Consumer Confidence fell substantially this week – down 3.2% and unwinding over half of the cumulative gains (5.6%) over the past six weeks. Some payback, particularly in views towards economic conditions, is unsurprising given their sharp improvement since early April. Importantly, confidence is still well above its long-run average.
"The fall in views towards financial conditions is a little worrying, however. This could reflect homeowners’ concerns about falling house prices, particularly in Sydney and Melbourne. Moreover, these concerns are likely exacerbated by the high existing household debt level and expectations of lacklustre wage growth in the near future. That said, despite the recent decline, views towards both current and future financial conditions remain above their long-term averages.”
Click here to download the latest weekly ANZ-Roy Morgan Australian Consumer Confidence PDF.
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Related Research Reports
The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.